Tupperware Brands Corp. provided downbeat second-quarter guidance after missing first-quarter revenue expectations but meeting EPS expectations. Earnings for the latest quarter rose to $43.4 million, or 86 cents a share, from $29.5 million, or 59 cents a share, in the same period a year ago. The FactSet earnings-per-share consensus was 86 cents. Revenue was $525.7 million, compared with $581.8 million a year ago, missing the FactSet consensus of $527.8 million. For Q2, the company expects EPS between $1.02 and $1.07, compared with a FactSet consensus of $1.13. Tupperware said "economic and political headwinds" affected the company this quarter and that it expects "some softness in local currency sales growth in 2016." The stock rose 24.7% in the last three months, compared with a 13% rise in the S&P 500.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below